US: Business inventories to post moderate gains - Nomura

In view of the analysts at Nomura, consensus expects US total business inventories to have increased slightly by 0.1% m-o-m in March.

Key Quotes

“Inventory investment in Q1 was lukewarm at best compared to Q4. Factory inventories remained flat in March, following slow growth in February and January. On a quarterly basis, factory inventories increased only by 0.5% in Q1, slower than a 0.9% increase in Q4. Inventory investment by wholesalers and retailers remained weak as well. Wholesalers’ inventories slipped 0.1% m-o-m in March after downwardly revised 0.2% m-o-m increase in February. Retailer’s inventories were somewhat better, increasing 0.4% in March after improving at a pace within a steady range in previous two months. Altogether, consensus expects total business inventories to have increased slightly by 0.1% m-o-m in March.”